Abeona Therapeutics (NASDAQ:ABEO) Insider Madhav Vasanthavada Sells 12,610 Shares of Stock

Abeona Therapeutics Inc. (NASDAQ:ABEO) insider Madhav Vasanthavada sold 12,610 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $5.29, for a total value of $66,706.90. Following the sale, the insider directly owned 318,619 shares of the company’s stock, valued at $1,685,494.51. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Abeona Therapeutics Trading Up 0.6%

Shares of ABEO stock opened at $5.19 on Tuesday. Abeona Therapeutics Inc. has a 1-year low of $3.93 and a 1-year high of $7.54. The firm has a market cap of $281.25 million, a PE ratio of 4.22 and a beta of 1.12. The company has a 50-day moving average of $5.10 and a two-hundred day moving average of $5.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.74 and a quick ratio of 9.53.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.17. On average, analysts predict that Abeona Therapeutics Inc. will post -1.16 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. raised its position in Abeona Therapeutics by 14.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock valued at $17,455,000 after purchasing an additional 381,357 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Abeona Therapeutics by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock valued at $13,743,000 after buying an additional 95,878 shares during the period. Boone Capital Management LLC acquired a new position in shares of Abeona Therapeutics during the second quarter worth about $7,126,000. Geode Capital Management LLC increased its stake in shares of Abeona Therapeutics by 129.1% during the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after buying an additional 623,243 shares during the period. Finally, Kennedy Capital Management LLC raised its holdings in Abeona Therapeutics by 56.4% in the third quarter. Kennedy Capital Management LLC now owns 1,050,863 shares of the biopharmaceutical company’s stock valued at $5,549,000 after acquiring an additional 378,860 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ABEO. Wall Street Zen cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a report on Monday, October 13th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Abeona Therapeutics in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Abeona Therapeutics Company Profile

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company’s research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company’s lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.